Auction Analysis: New York Impressionist & Modern Auctions – November 2017

Published

No. Pages

7

Report Type

Auction Analysis

NEW YORK IMPRESSIONIST & MODERN AUCTIONS – NOVEMBER 2017

The Impressionist and modern art evening sales in New York last week raised a total of $648,490,000 (excluding buyer’s premium), against a total pre-sale estimate of $563,750,000 to $771,250,000. The combined total between Sotheby’s and Christie’s was 85.6% higher than in November 2016 and 61.8% above the result from May earlier this year.

Christie’s started the New York November sale by offering 68 lots on the 13th of June, achieving a staggering $416.3 million. The result came within the pre-sale estimate, ranging from $360.3 million to $476.8 million. The figure was up 94.4% on the same sale last year, and recorded the highest auction total since November 2012.

Sotheby’s followed Christie’s with its evening sale on the 14th of November, which achieved a total of $232.2 million, within the pre-sale estimate range of $203.5 million to $294.5 million. The auction result showed an increase of 71.6% on last year’s result, making it the highest since November 2015.

Christie’s gained a leading market share of 64.2% (up from 61.3% in November 2016), against Sotheby’s 35.8% market share (down from 38.8% in November 2016).